Delay in infusing Rs 1,500 crore emergency funds puts Jet Airways in a spot

Lenders yet to reach consensus, wait for new investors' plan

Lenders to Jet Airways are unwilling to release Rs 1,500 crore of emergency funding to the debt-laden airline in one instalment despite promoter Naresh Goyal pledging 41.2 per cent of his shares. 

A delay by banks to infuse more funds into Jet may not only force the airline to ground its operations but may also make it difficult for the lenders to sell the company, which is not a ‘going concern’. 

“All regulatory process regarding Naresh Goyal pledging his shares has been completed. The management has clarified to the lenders that all due process has been followed. Despite that there is no